Litecoin Cash: Coming February 18, 2018

Litecoin Cash is the first hard fork of the Litecoin blockchain.  This fork will occur around February 18, 2018.  The jury is still out on if this is a legit project or just a money grab scam.

Litecoin Cash Fork Details

• Symbol: LCC
• Fork Block:  1371111
• Claim Ratio: For every 1 LTC you hold at the fork block, you’ll receive 10 LCC
• Max Supply: 840 Million
• Mining Algorithm: SHA256
• Block Time: 2.5 Minutes
• Segwit: Yes
• Lightning: Yes

Features of Litecoin Cash

There are a couple features of the LCC project that make it intriguing and will make mining LCC more fair.The first is the mining difficulty recalculation algorithm.  Litecoin Cash will use Evan Duffield’s DarkGravity V3 algorithm from DASH.  This will provide a more predictable block time as well as add protection from multipool hopping.

The second is the slow-start control to mining.  The block rewards will start at 1.25 LCC and grow to 250 LCC over the first 400 blocks after the fork to prevent early LCC miners from having an unfair advantage.  The first 24 blocks after the fork will be mined at minimum difficulty. After this, the DarkGravity algorithm will adjust the difficulty based on observed block generation times. The halving of block rewards will occur at the same chain heights as Litecoin.

Litecoin Cash Premine

Litecoin Cash will employ a premine of 1% of the total supply at the time of the fork that will be paid to a development fund.

Charlie Lee Calls Litecoin Cash a SCAM

Charlie Lee, the creator of Litecoin, calls Litecoin Cash a scam saying on twitter “Since on the topic of scams, any fork of Litecoin, calling itself Litecoin something or other, is a scam IMO. Litecoin Cash, Litecoin Plus, Litecoin *… all scams trying to confuse users into thinking they are Litecoin.” 

 Charlie also says that this is not a fork from the official Litecoin team saying “The Litecoin team and I are not forking Litecoin. Any forks that you hear about is a scam trying to confuse you to think it’s related to Litecoin. Don’t fall for it and definitely don’t enter your private keys or seed into their website or client. Be careful out there!” 

 

Conclusion

Time will tell if this project is legit.  If exchanges list LCC, it will be up to the market to set a price.  As we have seen with BTC forks, some of these projects can have value.  Before you claim your LCC, make sure the LCC wallet you lose is legit so you do not get your Litecoin stolen.

Litecoin Cash Links:

Litecoin Cash Website: https://litecoinca.sh
Litecoin Cash on BitcoinTalk: https://bitcointalk.org/index.php?topic=2876538.0
Litecoin Cash on Twitter: https://twitter.com/LitecoinFork
Litecoin Cash on Telegram: https://t.me/litecoincashofficial
Reddit: https://www.reddit.com/r/LCCofficial/
Litecoin Cash on Discord: https://discordapp.com/invite/F2nZXnW
Litecoin Cash on GitHub: https://github.com/litecoincash-project/